	Previous Week	% Change
GOLDUD	$ 1,742.90	+1.89%
GOLDID	Rp 25,389,000	+2.35%
GOLDGR	Rp 824,500	+1.96%
XAUUSD	$ 1,743.10	+1.91%
COMEX	$ 1,743.30	+2.05%
USD/IDR	Rp 14,567	+0.07%

(12/03 - 19/03) Gold price printed weekly appreciation of 1.07%
The Fed became the "main star"

Market Review

Getting back to its luster, the GOLDUD contract finally managed to get out of the $ 1740 psychological zone, and closed last week's trading session with an appreciation of 1.89% to the level of $ 1,775.90 per troy ounce. Returning to its nature, the price of gold in the past week took advantage of the weakening USD on the financial market board amid a number of headlines, news and data related to the US economy.

Starting in the middle of the week, the increase in gold prices was driven by the release of upbeat inflation data and provided support for gold prices as rising inflation made gold prices rise as a hedge against inflation. Inflation rate data released rose and showed the highest increase in 8.5 years in March. Immediately responded by the official of The Fed, Patrick Harker, Officer from Philadelphia, said that based on the newly released inflation rate, the Fed will not stop its economic aid at least until the main indicators of the US economy can grow 5-6% this year.

Closing the week, the USD value and bond yields returned to correction amid the release of US retail sales data and the number of people who made jobless claims was in optimistic conditions. Meanwhile, still providing support for gold prices, the US Central Bank which states that it is necessary to reduce the level of bond purchases before finally raising interest rates - this indicates that tightening measures will occur in a monthly or even yearly phase in the future.

Market View

Gold Move Under US Dollar Affection

The US dollar had been moving lower in the past several trading days although some of US economic indicator showing a positive stances of improvement. The US dollar move affected the gold prices as it moves higher and traded around $1770 in the beginning of this week. Besides looking at the US dollar moves, market players also paying attention on high amount of stimulus that were approved by the US Government and may push the inflation higher – causing the gold asset to be used as hedging against inflation. Will the gold prices kept higher as people kept absorbing the stimulus sentiment?

WEEKLY ECONOMIC DATA & EVENTS CALENDAR

Date	Data/Events	Actual	Expectation	Previous
`21/Apr`	`CA – BOC Monetary Policy & Rate Statement`	`-`	`0.25%`	`0.25%`
`22/Apr`	`EU – Monetary Policy & Rate Statement`	`-`	`0.00%`	`0.00%`
`22/Apr`	`US – Unemployment Claims`	`-`	`635K`	`576K`

Sumber: Riset ICDX